At the cost of national sovereignty and against the will of the Greek people, who just last week voted no in a referendum, the land where democracy was born capitulates and falls under dictatorship.
In politics, when two parties (or more) with starkly contrasting ideologies (i.e. Republicans and Democrats) agree on a deal, 99.9% of the time it’s the citizens who pay the price.
Don’t expect the Marxist Tsipras government to stay in power long.
A Greek exit from the eurozone has been avoided after a weekend of tough talks, but the political cost of arriving at a deal is likely to be felt for years to come.
After 18 hours of negotiations, culimnating six months of wider talks, euro leaders emerged bleary-eyed on Monday morning (13 July) to announce a deal that will, eventually, see Greece get a new bailout if it takes painful reforms and if it agrees to intense scrutiny at every step of the way.
The immediate result was summed up by European Commission president Jean-Claude Juncker.
“There will be no Grexit”, he said. Continue reading